Maryland Real Estate Authority |
| Stay Positive if You Want to Buy or Sell Maryland Real Estate Posted: 31 Dec 2010 02:00 AM PST You may have read or heard that property values in Maryland have fallen this past year. Before you start to feel sad (if you want sell Maryland real estate) or joyous (if you want to buy Maryland real estate), try to put this news in perspective. Those reports are looking at the state overall; the property values in the particular area where you want to live may have seen an above or below average decrease in property value. It also helps to remember that market value and property value are not equal. Property value helps local jurisdictions decide how much property tax a person should pay. And while it is true that property value can be a factor in market value, it is not the only factor. A home’s worth on the market is also related to supply and demand, as well as the value an individual buyer places on the property. Tax assessments don’t necessarily factor in the view of the lake or the fact that a home has state of the art appliances or that it has been kept in pristine condition. If you want to buy or sell Maryland real estate in the next year, keep a positive attitude that you will obtain the price and/or property that you are seek. |
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